taxxx

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Bhalla & co not a small service provider who is engaged in providing taxable services in rajasthan.
raised invoices for rs 15Lakhs showing seperately service tax at 14.5%. it omitted to show service tax seperately in certain invoices of rs10Lakh. what is the service tax component on the bills in which service tax is not seperately charged?


a. 145000
b. 126637
c. 362500
d. nil
Replies (3)

b. 1,26,637/-

mam, what is the slab rate to applicable nov.2017
Income Tax Slab for Individual Tax Payers & HUF (Less Than 60 Years Old) (Both Men & Women)

Income Slab Tax Rate
Income up to Rs 2,50,000* No tax
Income from Rs 2,50,000 – Rs 5,00,000 5%
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.
Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

Cess: 3% on total of income tax + surcharge.
*Income tax exemption limit for FY 2017-18 is up to Rs. 2,50,000 for individual & HUF


Income Tax Slab for Senior Citizens (60 Years Old Or More but Less than 80 Years Old)(Both Men & Women)

Income Slab Tax Rate
Income up to Rs 3,00,000* No tax
Income from Rs 3,00,000 – Rs 5,00,000 5%
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh upto Rs.1 crore.
Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

Cess: 3% on total of income tax + surcharge.



Income Tax Slab for Senior Citizens(80 Years Old Or More) (Both Men & Women)



Income Slab Tax Rate
Income up to Rs 2,50,000* No tax
Income up to Rs 5,00,000* No tax
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Surcharge: 15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.



INCOME TAX SLAB FOR DOMESTIC COMPANIES FOR FY 2017-18 (AY 2018-19)

The tax rate for companies with an annual turnover of up to Rs 50 crore has been brought down to 25% from 30%.


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